Pegasus Advises on $11M Disposition of Chicago Multifamily Portfolio
Pegasus, a national commercial real estate advisory firm, announced the disposition of an eight-building, 94-unit multifamily portfolio in Chicago’s Rogers Park neighborhood. The portfolio traded for $10.8 million to a seasoned local operator with a significant footprint in the submarket.
The portfolio included eight contiguous apartment buildings totaling 94 units located at 6705 to 6737 N California Avenue. Pegasus was engaged by the seller, a California-based family office who inherited the asset in 2024, to provide strategic oversight throughout the sales process. Katherine Weaver of Pegasus served as the firm’s lead advisor.
The portfolio attracted strong investor interest due to its scale, a rare offering among garden-style assets in Rogers Park. Recent capital improvements, coupled with assumable interest-only CMBS financing, further enhanced the opportunity’s appeal. The buyer, a Chicago-based multifamily operator completing a 1031 exchange, intends to self-manage the properties and pursue additional renovations and lease-up initiatives.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout